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    QPR to pay up at last

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    RRC
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    QPR to pay up at last

    Post by RRC on Fri 27 Jul 2018, 1:53 pm

    QPR's fine of almost £42m for breaking FFP rules has been agreed
    and they start paying it off this season About time too!

    Last October, an arbitration panel ruled that QPR's fine of £41.965m for over-spending
    during the 2013-14 season that saw them promoted to the Premier League - by beating
    Derby County in the Championship play-off final - was not disproportionate.

    The west London club lodged an appeal against the decision and a hearing was scheduled
    to start earlier this month but, in a joint statement, the two parties have announced they
    have reached an agreement to effectively restructure the fine.

    QPR will now pay the league £17m for the Financial Fair Play breach and £3m for the
    league's legal costs, and a payment schedule over the next 10 years is understood to have
    been agreed.

    The balance of the original fine, £21.965m, will be swallowed by QPR's owners by converting
    outstanding loans to the club into shares.

    QPR agree £42m settlement with EFL



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    whestonram

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    Re: QPR to pay up at last

    Post by whestonram on Fri 27 Jul 2018, 4:23 pm

    RRC wrote:QPR's fine of almost £42m for breaking FFP rules has been agreed
    and they start paying it off this season About time too!

    Last October, an arbitration panel ruled that QPR's fine of £41.965m for over-spending
    during the 2013-14 season that saw them promoted to the Premier League - by beating
    Derby County in the Championship play-off final - was not disproportionate.

    The west London club lodged an appeal against the decision and a hearing was scheduled
    to start earlier this month but, in a joint statement, the two parties have announced they
    have reached an agreement to effectively restructure the fine.

    QPR will now pay the league £17m for the Financial Fair Play breach and £3m for the
    league's legal costs, and a payment schedule over the next 10 years is understood to have
    been agreed.

    The balance of the original fine, £21.965m, will be swallowed by QPR's owners by converting
    outstanding loans to the club into shares.

    QPR agree £42m settlement with EFL

    I really don't understand the bit about converting loans to shares.

    But far more importantly, it doesn't help us, does it? We were cheated out of promotion and QPR get ages to pay off a relatively small fine, which I suspect won't stop anybody else (maybe including DCFC) from overspending.
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    MadAmster

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    Re: QPR to pay up at last

    Post by MadAmster on Fri 27 Jul 2018, 7:50 pm

    whestonram wrote:
    RRC wrote:QPR's fine of almost £42m for breaking FFP rules has been agreed
    and they start paying it off this season About time too!

    Last October, an arbitration panel ruled that QPR's fine of £41.965m for over-spending
    during the 2013-14 season that saw them promoted to the Premier League - by beating
    Derby County in the Championship play-off final - was not disproportionate.

    The west London club lodged an appeal against the decision and a hearing was scheduled
    to start earlier this month but, in a joint statement, the two parties have announced they
    have reached an agreement to effectively restructure the fine.

    QPR will now pay the league £17m for the Financial Fair Play breach and £3m for the
    league's legal costs, and a payment schedule over the next 10 years is understood to have
    been agreed.

    The balance of the original fine, £21.965m, will be swallowed by QPR's owners by converting
    outstanding loans to the club into shares.

    QPR agree £42m settlement with EFL

    I really don't understand the bit about converting loans to shares.

    But far more importantly, it doesn't help us, does it? We were cheated out of promotion and QPR get ages to pay off a relatively small fine, which I suspect won't stop anybody else (maybe including DCFC) from overspending.

    Bigger slap on the wrist than I expected.....
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    Mitten State Ram

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    Re: QPR to pay up at last

    Post by Mitten State Ram on Sat 28 Jul 2018, 1:07 am

    Lolz @ McJudas.
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    SawleyRam

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    Re: QPR to pay up at last

    Post by SawleyRam on Sat 28 Jul 2018, 8:00 am

    Same happened to West Ham in 2006 (Slap on the wrist) when they played two illegal players (Carlos Tevez & Javier Mascherano) for half a season in order to get promoted to the Premiership at the expense of a team North of Watford (Sheffield United) and then sold the players for a huge profit that paid for their fine.

    Portsmouth, Leeds and Middlesbrough have been relegated because of a points deduction for other reasons than insolvency, and in two cases (Portsmouth & Leeds) relegation lead to another points deduction because the first relegation lead to insolvency.

    All these cases were before the QPR fiasco so set case precedence but it seems strange that no London based club has suffered the same fate, coincidence or what?

    N.B. Arsenal had won the old first division 1990/91 by 7 points but was docked 2 points for an on pitch player brawl which meant they still won the title from a team North of Watford (Liverpool). Food for thought?
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    New England Ram
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    Re: QPR to pay up at last

    Post by New England Ram on Mon 30 Jul 2018, 2:02 pm

    whestonram wrote:
    RRC wrote:QPR's fine of almost £42m for breaking FFP rules has been agreed
    and they start paying it off this season About time too!

    Last October, an arbitration panel ruled that QPR's fine of £41.965m for over-spending
    during the 2013-14 season that saw them promoted to the Premier League - by beating
    Derby County in the Championship play-off final - was not disproportionate.

    The west London club lodged an appeal against the decision and a hearing was scheduled
    to start earlier this month but, in a joint statement, the two parties have announced they
    have reached an agreement to effectively restructure the fine.

    QPR will now pay the league £17m for the Financial Fair Play breach and £3m for the
    league's legal costs, and a payment schedule over the next 10 years is understood to have
    been agreed.

    The balance of the original fine, £21.965m, will be swallowed by QPR's owners by converting
    outstanding loans to the club into shares.

    QPR agree £42m settlement with EFL

    I really don't understand the bit about converting loans to shares.

    But far more importantly, it doesn't help us, does it? We were cheated out of promotion and QPR get ages to pay off a relatively small fine, which I suspect won't stop anybody else (maybe including DCFC) from overspending.

    Just another Juventus moment Hurt




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